Sarkari Yojana
Credit Linked Subsidy Scheme for Middle Income Group
About Credit Linked Subsidy Scheme for Middle Income Group
Rolled out by the Ministry of Housing and Urban Affairs, Government of India, the “Credit Linked Subsidy Scheme for Middle Income Group (CLSS for MIG)” provides an interest subsidy on housing loans taken by Middle Income Group households. It began as a one-year rollout effective 01 January 2017 and operates as a Central Sector Scheme. Under the scheme, MIG beneficiaries can approach banks, housing finance companies, and other such institutions for loans to acquire or construct a house, including re-purchase.
Scheme Overview
Central Government
Ministry Of Housing & Urban Affairs
National Housing Bank, Housing And Urban Development Corporation And State Bank Of India
01 Jan 2017
Scheme Details
Eligibility Requirements
To qualify for Credit Linked Subsidy Scheme for Middle Income Group, applicants must satisfy the following conditions:
No member of the beneficiary family should own…
No member of the beneficiary family should own a pucca (all-weather) house anywhere in India, whether in the applicant's name or in the name of any family member. For a married couple, either spouse individually, or both jointly, can be treated as eligible for one house, subject to the household meeting the scheme's income criteria.
The beneficiary family must not have already received…
The beneficiary family must not have already received central assistance under any other housing scheme of the Government of India.
Middle Income Group-I (MIG-I)
Middle Income Group-I (MIG-I): households with annual income above ₹6 lakhs and up to ₹12 lakhs applying to Banks, Housing Finance Companies (HFCs), and similar institutions for a housing loan to acquire or build a house.
Middle Income Group-II (MIG-II)
Middle Income Group-II (MIG-II): households with annual income above ₹12 lakhs and up to ₹18 lakhs applying to Banks, Housing Finance Companies (HFCs), and similar institutions for a housing loan to acquire or build a house. Note: Within the MIG segments, priority may be extended to women (with widows and single working women given the highest priority), persons belonging to Scheduled Castes/Scheduled Tribes/Other Backward Classes, persons with disabilities, and transgender persons.
Benefits Provided
Credit Linked Subsidy Scheme for Middle Income Group provides the following benefits to eligible applicants:
The scheme funds the purchase, construction, or repurchase…
The scheme funds the purchase, construction, or repurchase of houses with a carpet area of 160 sq. mts. (MIG I) and 200 sq. mts. (MIG II), based on income eligibility, along with basic civic amenities such as water, toilets, sanitation, sewerage, roads, and electricity.
MIG beneficiaries qualify for an interest subsidy featuring…
MIG beneficiaries qualify for an interest subsidy featuring the following terms: ParticularsMIG IMIG IIHousehold Income (₹ per annum)₹6,00,001/- - ₹12,00,000/-₹12,00,001/- - ₹18,00,000/-Interest Subsidy (% per annum)4%3%Maximum loan tenure (in years)2020Eligible housing loan amount for interest subsidy (₹)₹9,00,000/-₹12,00,000/-Dwelling Unit Carpet Area160 sq. mts. 200 sq. mts. Discount rate for Net Present Value (NPV) calculation of interest subsidy (%)9%9%Note 01: The interest subsidy applies only to the loan amount shown in the table for a tenure of 20 years, or for the actual loan tenure if shorter. Note 02: Any loan amount beyond the specified limit will attract the non-subsidized rate.
Documents Required
Applicants should keep the following documents ready before starting the application:
Aadhaar Card copy
Aadhaar Card copy
PAN Card copy
PAN Card copy
Proof of residence
Proof of residence
Income proof
Income proof
Bank account details
Bank account details
Property-related documents
Property-related documents
Any other document as may be required
Any other document as may be required
2017-01-01
How to Apply
Offline Application
Applicants can apply for Credit Linked Subsidy Scheme for Middle Income Group through the offline application process outlined below.
Application Processes:
Eligible applicants can apply through banks or financial…
Eligible applicants can apply through banks or financial institutions participating in the PMAY initiative.
Obtain the application form from the institution or…
Obtain the application form from the institution or bank and complete it in full.
Submit the fully filled form to the lender…
Submit the fully filled form to the lender along with the necessary supporting papers.
Once verification is complete, the loan amount is…
Once verification is complete, the loan amount is credited to your bank account.
After loan disbursal, the lender coordinates with the…
After loan disbursal, the lender coordinates with the nodal agencies to initiate the interest subsidy claim.
After verification, the interest subsidy is credited to…
After verification, the interest subsidy is credited to your loan account, reducing the loan balance and, in turn, your Equated Monthly Installment. Note 01: The interest subsidy is credited upfront to the beneficiary's loan account via Primary Lending Institutions (PLIs), reducing the effective loan amount and EMI. Note 02: PLIs include Scheduled Commercial Banks, Housing Finance Companies, Regional Rural Banks, State Cooperative Banks, Urban Cooperative Banks, Small Finance Banks, Non-Banking Financial Company-Micro Finance Institutions (NBFC MFIs), or any other institution notified by MoHUA. Note 03: Before submitting claims to CNAs, PLIs must link the beneficiary family's Aadhaar Number(s) to prevent duplication. Track Application in the CLSS tracker:
Applicant visits the CLAP Portal
Applicant visits the CLAP Portal.
The Home Page hosts the CLSS tracker, where…
The Home Page hosts the CLSS tracker, where the applicant enters the Application ID received via SMS from CLAP.
Upon entering a valid Application ID, an OTP…
Upon entering a valid Application ID, an OTP is sent to the mobile number registered with CLAP Portal during Process-1 through the PLI.
Once a valid OTP is entered, the system…
Once a valid OTP is entered, the system displays the beneficiary's application stages — completed stages appear in green and the stage in progress appears in blue.
For an existing CLSS beneficiary who has received…
For an existing CLSS beneficiary who has received the subsidy in multiple disbursements, the tracker shows details of every past disbursement, including dates and amounts. Central Nodal Agencies: National Housing Bank (NHB), Housing and Urban Development Corporation (HUDCO), and State Bank of India (SBI) serve as Central Nodal Agencies (CNAs), channeling the subsidy to lending institutions and monitoring progress of this component. The Ministry may designate additional institutions as CNA in future. Toll-Free Helpline Numbers: NHB: 1800-11-3377, 1800-11-3388 HUDCO: 1800-11-6163 SBI: 1800-11-2018
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.